In this chapter, the following terms have the meanings indicated. Terms Defined. “Beneficially owned by a real property entity” means the entity holds: An ownership interest in another entity that owns the real property directly; An interest in another entity or entities that, through a series of ownership tiers, ultimately reaches an entity that owns the real property directly; or A beneficial interest in a trust that directly owns the real property or, through a series of trusts or other entities, ultimately reaches an entity that owns the real property directly. “Controlling interest” has the meaning stated in Tax-Property Article, §12-117, Annotated Code of Maryland. “Controlling interest percentage standard” means the more-than-80-percent standard in the definition of “controlling interest” as stated in Tax-Property Article, §12-117, Annotated Code of Maryland. “Directly owned by a real property entity” means the entity holds an interest in real property transferable by an instrument of writing. Final Transfer. “Final transfer” has the meaning stated in Tax-Property Article, §12-117, Annotated Code of Maryland. “Final transfer” does not include any transfers or steps in a transfer occurring before July 1, 2008. “Instrument of writing” has the meaning stated in Tax-Property Article, §12-101, Annotated Code of Maryland. “Plan of transfer” has the meaning stated in Tax-Property Article, §12-117, Annotated Code of Maryland, and includes: Transfers of interests in a real property entity to multiple grantees under one or more agreements if the totality of the transfers to the separate grantees meets the controlling interest percentage standard in any 12-month period, unless the real property entity can establish to the Department's satisfaction that the transfers were part of entirely separate, distinct, and unrelated contracts or agreements; and Transfers of interests in a real property entity that, if done by an instrument of writing for real property directly, would be taxable under Tax-Property Article, Titles 12 and 13, Annotated Code of Maryland, including articles of consolidation, articles of merger, and articles of transfer, as those terms are defined in Tax-Property Article, §12-101, Annotated Code of Maryland, whereby either: The real property entity ceases to exist; or The parties holding the controlling interest in the real property entity and their respective allocation of distributions, profits, and losses are not identical at the beginning and end of the transaction. “Real property” has the meaning stated in Tax-Property Article, §12-117, Annotated Code of Maryland. “Real property entity” has the meaning stated in Tax-Property Article, §12-117, Annotated Code of Maryland. “Step transaction doctrine” means the legal doctrine that: Looks to the substance of a transaction over its form to determine that steps have been taken to achieve tax avoidance; Amalgamates or collapses the separate transfers or steps into one transaction where they are actually component parts of a single transaction; and Is based on the application of three separate tests as defined and applied in Read v. Supervisor of Assessments, 354 Md. 383, 731 A.2d 868 (1999), which are the: End result test; Interdependence test; and Binding commitment test.